A lot of news on the health and direction of the economy came out last week. GDP was up solidly, increasing at an annual rate of 3.2%, extending the trend of the last two quarters. The consumer confidence index rose to a 
reading of 60.6, the highest level since May. Home sales increased last month, while Case Schiller reported that home prices are still soft. The Fed concluded their two day meeting and released a statement that despite a pick up in the economy and even though commodity prices are moving higher, their bigger concern is still the risk of deflation in the economy. Their quantitative easing program will continue as planned.